Backblaze, Inc. (NASDAQ:BLZE) Shares Purchased by XTX Topco Ltd

XTX Topco Ltd boosted its position in Backblaze, Inc. (NASDAQ:BLZE) by 108.1% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 72,520 shares of the company’s stock after purchasing an additional 37,669 shares during the quarter. XTX Topco Ltd owned about 0.17% of Backblaze worth $463,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in BLZE. SG Americas Securities LLC raised its stake in Backblaze by 84.1% in the 2nd quarter. SG Americas Securities LLC now owns 21,283 shares of the company’s stock valued at $131,000 after purchasing an additional 9,720 shares during the last quarter. Bank of New York Mellon Corp purchased a new position in shares of Backblaze during the 2nd quarter worth about $701,000. Rhumbline Advisers lifted its holdings in shares of Backblaze by 3,750.3% during the 2nd quarter. Rhumbline Advisers now owns 47,474 shares of the company’s stock worth $292,000 after acquiring an additional 46,241 shares during the period. ClariVest Asset Management LLC lifted its holdings in shares of Backblaze by 2.9% during the 2nd quarter. ClariVest Asset Management LLC now owns 75,554 shares of the company’s stock worth $465,000 after acquiring an additional 2,154 shares during the period. Finally, First Eagle Investment Management LLC lifted its holdings in shares of Backblaze by 50.6% during the 2nd quarter. First Eagle Investment Management LLC now owns 1,094,490 shares of the company’s stock worth $6,742,000 after acquiring an additional 367,500 shares during the period. Institutional investors and hedge funds own 54.03% of the company’s stock.

Insider Buying and Selling at Backblaze

In other Backblaze news, VP Tina Cessna sold 8,874 shares of the stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $6.42, for a total value of $56,971.08. Following the completion of the sale, the vice president now owns 144,566 shares of the company’s stock, valued at $928,113.72. This trade represents a 5.78 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Gleb Budman sold 10,321 shares of the stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $6.42, for a total transaction of $66,260.82. Following the completion of the sale, the chief executive officer now directly owns 1,864,646 shares of the company’s stock, valued at $11,971,027.32. This trade represents a 0.55 % decrease in their position. The disclosure for this sale can be found here. 5.20% of the stock is owned by corporate insiders.

Backblaze Trading Down 4.1 %

NASDAQ BLZE opened at $6.76 on Friday. Backblaze, Inc. has a one year low of $4.91 and a one year high of $12.65. The company’s 50 day moving average price is $6.91 and its 200 day moving average price is $6.42. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.54 and a current ratio of 0.54. The firm has a market capitalization of $300.14 million, a price-to-earnings ratio of -6.09 and a beta of 0.91.

Backblaze (NASDAQ:BLZE) last posted its quarterly earnings results on Thursday, November 7th. The company reported ($0.29) EPS for the quarter, missing the consensus estimate of ($0.11) by ($0.18). Backblaze had a negative net margin of 37.13% and a negative return on equity of 100.67%. The business had revenue of $32.59 million during the quarter, compared to analysts’ expectations of $32.54 million. During the same quarter in the previous year, the business posted ($0.43) EPS. On average, sell-side analysts predict that Backblaze, Inc. will post -1.02 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Craig Hallum increased their price objective on shares of Backblaze from $10.00 to $11.00 and gave the stock a “buy” rating in a report on Monday, October 21st. Raymond James increased their price objective on shares of Backblaze from $13.00 to $14.00 and gave the stock an “outperform” rating in a report on Friday, November 8th.

About Backblaze

Backblaze, Inc, a storage cloud platform, provides businesses and consumers cloud services to store, use, and protect data in the United States and internationally. The company offers cloud services through a web-scale software infrastructure built on commodity hardware. It also provides Backblaze B2 Cloud Storage, which enables customers to store data, developers to build applications, and partners to expand their use cases.